32NExemptions and concessions

32N Exemptions and concessions S. 32N(1) amended by No. 28/2017 s. 29. (1) Duty is not chargeable under section 32J(1)(a) if the sale contract would be exempt from duty under a specified Chapter 2 exemption if it were a transfer of dutiable property to the first purchaser. (2) If the first purchaser would be entitled to a concession under this Chapter if the sale contract were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32J(1)(a). S. 32N(3) amended by Nos 84/2008 s. 5(8), 28/2017 s. 29. (3) Duty is not chargeable under section 32J(1)(b) or (c) if the subsequent transaction would be exempt from duty under a specified Chapter 2 exemption if it were a transfer of dutiable property to the subsequent purchaser who obtains the transfer right under the subsequent transaction. S. 32N(4) amended by No. 84/2008 s. 5(8). (4) If a subsequent purchaser would be entitled to a concession under this Chapter if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that concession in respect of duty charged under section 32J(1)(b) or (c). S. 32N(5) inserted by No. 38/2023 s. 5. (5) If the first purchaser would be entitled to a concession under Part 2 of Chapter 11 if the sale contract were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32J(1)(a). S. 32N(6) inserted by No. 38/2023 s. 5. (6) Subject to subsection (7), a subsequent purchaser is entitled to a concession under Part 2 of Chapter 11 in respect of duty charged under section 32J(1)(b) or (c) if— (a) the subsequent purchaser would be entitled to a concession under Part 2 of Chapter 11 if the subsequent transaction were a transfer to the subsequent purchaser; and (i) a first purchaser who is liable to pay the amount of duty charged under section 32J(1)(a); or (ii) another subsequent purchaser who is liable to pay the amount of duty charged under section 32J(1)(c). S. 32N(7) inserted by No. 38/2023 s. 5. (7) If a subsequent purchaser would be entitled to an exemption under section 250B(2) if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that exemption in respect of duty charged under section 32J(1)(b) or (c). S. 32O inserted by No. 36/2005 s. 10, repealed by No. 84/2008 s. 5(9). Ch. 2 Pt 4A Div. 3A (Heading and ss 32O-32OE) inserted by No. 28/2017 s. 30.